American Air, Rivals Limit Flying as Disruptions Hinder Recovery
- Carrier sees third-quarter flight capacity down as much as 10%
- Profit in the second quarter matched expectations, sales beat
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American Airlines Group Inc. joined its main rivals in limiting flying this quarter and for 2022 as the industry grapples with a rash of costly flight disruptions and economic volatility that threaten a rebound in travel demand.
Flight capacity will be down as much as 10% this quarter and 9.5% for the year from pre-pandemic levels, the airline said in statement Thursday that also detailed earnings results. American’s adjusted profit was 76 cents a share in the second quarter, matching expectations from analysts. Revenue was a quarterly record $13.4 billion, topping expectations for nearly $13.2 billion.